Council approves administrative amendments to the Rules

Since the Real Estate Act was proclaimed in July and amendments were made to section 59 of the Rules in consultation with AREA, the Real Estate Council of Alberta has gone through the Real Estate Act Rules with an eye to ensuring they mesh with the current Act.

As a result, at its November 5 meeting, Council approved changes to the existing Rules. The amendments were administrative in nature and do not create additional changes to the day-to-day business of industry members.

The changes include:

• Deleting the sections of the Rules relating to prospectus filing requirements including the applicable schedules;
• Amending the wording of Rule 1(1)(n.1) and 60(5)(b) to reflect the changes made to section 59 of the Rules dealing with facilitation services;
• Amending the wording of Rule 23(1) and (2) to reflect the change from “professional development” to “re-licensing education program”;
• References to Dual Agency with Limitations was removed from section 60.1, the mandatory content section of the residential relationship forms;
• Revising Schedule 2 to reflect the current licensing and other fees structure; and,
• Under General Fees, removing fees that are no longer being charged relating to failure to file application for renewal of license/registration by the specified date (in addition to licence renewal fees); and failure to notify the executive director of the termination of any broker, associate broker or agent within 14 days of termination.

The Real Estate Act Rules can be read in their entirety here.

 

home